Is the effective rate of interest ever numerically smaller than the nominal interest rate? Explain.

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Business Mathematics In Canada

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Question Posted: Jan 01, 2024 02:51 AM

Is the effective rate of interest ever equal to the nominal interest rate? Explain.
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Is the effective rate of interest ever numerically smaller than the nominal interest rate? Explain.

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Yes the effective rate of interest can be numerically smaller than the nominal interest rate This oc...View the full answer

Business Mathematics In Canada

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